Saughter and May advised INEOS Finance plc on €700mn Senior Secured Notes Issue and Related US$450mn and €350mn Term Loans

Saughter and May, working as part of an integrated team with Cravath, Swaine & Moore LLP, advised INEOS Finance plc on its issue of €700mn aggregate principal amount of 7⅞% senior secured notes due 2031 (the “Issue”) and the related incurrence by INEOS Finance plc and INEOS US Finance LLC (the “Borrowers”) of new USD 450mn and EUR 350mn term loans under the Borrowers’ existing Term Loan B financing agreement (the “Credit Agreement”), together with certain amendments to the Credit Agreement. The proceeds of the new term loans and Issue will be used for, among other things, the repayment (including by way of “cashless roll”) and upsize of existing USD- and EUR-denominated term loans due 2028 under the Credit Agreement. 

Saughter and May was also pleased to work alongside Hengeler Mueller (Germany), NautaDutilh (Belgium), Bredin Prat (France), Mourant Ozannes (Jersey), Norton Rose Fulbright (Luxembourg), TSMP Law Corporation (Singapore), Advokatfirmaet BAHR (Norway), Lenz & Staehlin (Switzerland), Gowling WLG (Alberta, Canada), Stikeman Elliot (Ontario, Canada), and Cox & Palmer (Nova Scotia, Canada).